The 10 states with the most mortgage debt

Reposted with permission from Credio; by Christina Lavingia


Picture a home of your own, perhaps with a quintessential white picket fence or a porch in the back with a view. Sound like the setting of a fairy tale?

Homeownership might appear increasingly elusive to a large subset of the population, but a whopping $8.74 trillion of U.S. debt (72 percent) is mortgage-related, according to MarketWatch.

That sounds like a lot — and it is currently experiencing an uptick — but it represents a marked drop (of $1.3 trillion) from the highs leading up to the Great Recession.

Since then, millennials have struggled to enter the buyer’s market due to high levels of student loan debt, idle salaries and strict lending standards. Simultaneously, low home equity levels and boomerang kids have forced many baby boomers to defer downsizing their homes, according to Barclays.

The team at Credio wanted to see where Americans carry the most mortgage debt. To do this, they analyzed data from the Federal Reserve Bank of New York to calculate the mortgage debt per capita (amount attributable to all citizens) in all 50 states. They then ranked the list from lowest to highest.

This list features the 10 states with the largest mortgage burdens, along with the delinquency rate in the state (measured as the percent of mortgage debt that is at least 90 days delinquent).

#10. New Jersey

Mortgage Debt per Capita: $39,100
Mortgage Debt Delinquency Rate: 5.43%

[graphiq id=”6JzvaF6V5Q1″ title=”Mortgage Debt Balance Per Capita in New Jersey” width=”600″ height=”523″ url=”https://w.graphiq.com/w/6JzvaF6V5Q1″ link=”http://time-series.findthedata.com/l/12643/Mortgage-Debt-Balance-Per-Capita-in-New-Jersey” link_text=”Mortgage Debt Balance Per Capita in New Jersey | FindTheData” ]

#9. Alaska

Mortgage Debt per Capita: $40,470
Mortgage Debt Delinquency Rate: 0.85%

[graphiq id=”9PcnXjX8afb” title=”Mortgage Debt Balance Per Capita in Alaska” width=”600″ height=”523″ url=”https://w.graphiq.com/w/9PcnXjX8afb” link=”http://time-series.findthedata.com/l/12619/Mortgage-Debt-Balance-Per-Capita-in-Alaska” link_text=”Mortgage Debt Balance Per Capita in Alaska | FindTheData” ]

#8. Connecticut

Mortgage Debt per Capita: $40,990
Mortgage Debt Delinquency Rate: 3.27%

[graphiq id=”fjRXlPeaJDf” title=”Mortgage Debt Balance Per Capita in Connecticut” width=”600″ height=”523″ url=”https://w.graphiq.com/w/fjRXlPeaJDf” link=”http://time-series.findthedata.com/l/12620/Mortgage-Debt-Balance-Per-Capita-in-Connecticut” link_text=”Mortgage Debt Balance Per Capita in Connecticut | FindTheData” ]

#7. Massachusetts

Mortgage Debt per Capita: $43,460
Mortgage Debt Delinquency Rate: 2.36%

[graphiq id=”dWHz0cppAMJ” title=”Mortgage Debt Balance Per Capita in Massachusetts” width=”600″ height=”523″ url=”https://w.graphiq.com/w/dWHz0cppAMJ” link=”http://time-series.findthedata.com/l/12634/Mortgage-Debt-Balance-Per-Capita-in-Massachusetts” link_text=”Mortgage Debt Balance Per Capita in Massachusetts | FindTheData” ]

#6. Washington

Mortgage Debt per Capita: $43,980
Mortgage Debt Delinquency Rate: 1.61%

[graphiq id=”7LrNqSIZrYp” title=”Mortgage Debt Balance Per Capita in Washington” width=”600″ height=”523″ url=”https://w.graphiq.com/w/7LrNqSIZrYp” link=”http://time-series.findthedata.com/l/12652/Mortgage-Debt-Balance-Per-Capita-in-Washington” link_text=”Mortgage Debt Balance Per Capita in Washington | FindTheData” ]

#5. Colorado

Mortgage Debt per Capita: $46,050
Mortgage Debt Delinquency Rate: 0.79%

[graphiq id=”iKMWdTh4AKx” title=”Mortgage Debt Balance Per Capita in Colorado” width=”600″ height=”523″ url=”https://w.graphiq.com/w/iKMWdTh4AKx” link=”http://time-series.findthedata.com/l/12627/Mortgage-Debt-Balance-Per-Capita-in-Colorado” link_text=”Mortgage Debt Balance Per Capita in Colorado | FindTheData” ]

#4. Virginia

Mortgage Debt per Capita: $46,180
Mortgage Debt Delinquency Rate: 1.27%

[graphiq id=”a5aswnm9fMh” title=”Mortgage Debt Balance Per Capita in Virginia” width=”600″ height=”523″ url=”https://w.graphiq.com/w/a5aswnm9fMh” link=”http://time-series.findthedata.com/l/12659/Mortgage-Debt-Balance-Per-Capita-in-Virginia” link_text=”Mortgage Debt Balance Per Capita in Virginia | FindTheData” ]

#3. Maryland

Mortgage Debt per Capita: $49,320
Mortgage Debt Delinquency Rate: 2.89%

[graphiq id=”ecFDzfOqGjP” title=”Mortgage Debt Balance Per Capita in Maryland” width=”600″ height=”523″ url=”https://w.graphiq.com/w/ecFDzfOqGjP” link=”http://time-series.findthedata.com/l/12632/Mortgage-Debt-Balance-Per-Capita-in-Maryland” link_text=”Mortgage Debt Balance Per Capita in Maryland | FindTheData” ]

#2. California

Mortgage Debt per Capita: $51,190
Mortgage Debt Delinquency Rate: 1.21%

[graphiq id=”dw5rorp36Tz” title=”Mortgage Debt Balance Per Capita in California” width=”600″ height=”523″ url=”https://w.graphiq.com/w/dw5rorp36Tz” link=”http://time-series.findthedata.com/l/12617/Mortgage-Debt-Balance-Per-Capita-in-California” link_text=”Mortgage Debt Balance Per Capita in California | FindTheData” ]

#1. Hawaii

Mortgage Debt per Capita: $51,770
Mortgage Debt Delinquency Rate: 2.78%

[graphiq id=”hDACrjRkxr7″ title=”Mortgage Debt Balance Per Capita in Hawaii” width=”600″ height=”523″ url=”https://w.graphiq.com/w/hDACrjRkxr7″ link=”http://time-series.findthedata.com/l/12628/Mortgage-Debt-Balance-Per-Capita-in-Hawaii” link_text=”Mortgage Debt Balance Per Capita in Hawaii | FindTheData” ]

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